Enterprise Florida is the lead economic development organization for the state of Florida.

P E R S E V E R A N C E = O P P O R T U N I T Y

Enterprise Florida Annual Report 2010-2011

From the Chairman

Dear Stakeholder,

In this annual report, you will see firsthand how Enterprise Florida is helping to achieve my goal of making Florida the best job-producing state in the nation. Together, we are working to ensure we capitalize on every opportunity to grow the economy and put Floridians back to work.

This objective will not be achieved easily, however. This past year continued to be challenging for job creation. While the economy slowly improved, unemployment remained stubbornly high and economic growth too anemic. The unemployment rate is 10.3 percent and estimates are that Florida’s GDP grew by only 1.5 percent during the third quarter of 2011.

As we anticipate an upturn in business investment to fuel job growth, the dedicated team at Enterprise Florida, the state’s principal economic development leader, is aggressively and persistently building a pipeline of expansion, retention and relocation projects. Competition for these opportunities is fierce, but the strong collaboration between Enterprise Florida, its statewide network of economic development partners, my office and the Legislature makes this state a formidable opponent, as can be judged by the success we achieved this past year.

The 2010-11 fiscal year results were impressive. Enterprise Florida helped create or retain 19,724 jobs, which put many Floridians back to work. Led by the financial/professional services, information technology, and manufacturing industries, jobs were added to all our targeted sectors. Their average annual wage exceeded $50,715. Florida-based companies that participated in Enterprise Florida’s worldwide trade events generated $572 million in actual and expected sales.

Among many notable economic development events during 2010-11, I must highlight one in particular: the Canada business development mission. Accompanied by Enterprise Florida and 11 economic development partners, this mission resulted in three Canadian companies announcing business expansions to Florida. Two hundred ten jobs will be created. During the mission, the Florida delegates and I met with 151 Canadian companies, with much more Florida growth and expansion expected to come.

Looking ahead, Florida is adapting to meet the needs of a dynamic marketplace where faster decision-making, less regulation and a well-defined economic development structure are requisites for ensuring ongoing job creation and economic growth. During this past legislative session, all of these items were addressed. For example, applications for state incentives can now be approved in fewer than 15 days; more corporate income is now exempt from taxes; and Florida’s economic development system has been reorganized to become seamless and more customer-focused.

As we continue the journey toward a full economic recovery and lay the groundwork for a future of growth, I am convinced that a persistent focus on job creation will enable us to reach the goal I set for the state during my campaign – creation of 700,000 jobs in seven years – and become the leading state for business investment in the nation.

Sincerely,

Rick Scott Governor Chairman, Enterprise Florida, Inc.

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Contents

Page

Message from Howell W. Melton Jr.Vice Chairman, Enterprise Florida Board of Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

Message from Gray SwoopeSecretary of Commerce and President & CEO, Enterprise Florida, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

Enterprise Florida Leadership Team Board of Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Senior Staff . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Primary Partners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Corporate Investors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Business Performance: Investments / ROI / Customer Satisfaction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

Business Retention & Recruitment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

External Affairs & Investor Relations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

International Trade & Business Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

Marketing & Strategic Intelligence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

Enterprise Florida Offices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . inside back cover

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From the Vice Chairman

Dear Stakeholder,

The theme of our annual report is “Perseverance yields Opportunity.” Business investment is essential to create new jobs, preserve existing jobs, and generate the revenue needed to grow and diversify Florida’s economy. With so many other states chasing the limited number of available opportunities for job creation, Enterprise Florida must vigorously and relentlessly compete. The results Enterprise Florida achieved this past fiscal year reflect the rewards of persistence.

But, before summarizing 2010-11 results, I give a special thanks to the members of the Enterprise Florida board of directors. I greatly appreciate the board’s fulfilling the demands of an increased number of meetings and unselfishly contributing more time and resources to help guide EFI’s economic development mission.

Additionally, special recognition must go to our new president & CEO, Secretary of Commerce Gray Swoope, and his entire staff, whose determination, talents and relentless work ethic produced good results in a difficult economic environment.

I am pleased to highlight EFI’s 2010-11 achievements. The Enterprise Florida team is commended for sound fiscal management, using effective cost control measures while maximizing productivity and return on investment. Job creation, EFI’s bottom-line objective, requires regular and close collaboration with a statewide network of economic development partners. And, during 2010-11, many of our partners participated in both domestic prospect development and international trade missions and events.

Enterprise Florida is committed to reinvigorating the state’s economy and understands the strategic advantage, which is gained from continuously exploring creative ways of mining opportunities in the new, dynamic environment of what we hope remains a post-recession economy.

With Governor Rick Scott’s unwavering commitment to job creation and economic diversification, and Gray Swoope’s dogged 24/7 determination to make it happen, new energy and optimism are growing among all of our partners and stakeholders who share this goal. I am excited about this new attitude and our governor’s goal to make Florida the most business friendly state in America. New jobs and a higher-quality living standard for the residents of Florida will follow. Together, we are shaping a bright future for our great state.

Sincerely,

Howell W. Melton Jr. Vice Chairman

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This annual report is my first as president & CEO of Enterprise Florida and reflects my first 3-plus months on the job. Even as I anticipate what the organization will achieve in the future, I cannot help but appreciate the results the professional, dedicated staff accomplished this past fiscal year.

Although the stubborn hold the recession had on the economy this fiscal year made job creation an extremely difficult task, the Enterprise Florida team worked to create and retain 19,724 jobs while facilitating a record year in exports. These accomplishments helped bend the state’s economic trend line toward recovery.

In the pages that follow, you will see the outcomes that profile a team in relentless pursuit of jobs. I will highlight just a few here.

• Protected5,272jobsbyhelpingexistingFloridabusinessesretaintheiroperationsinthestate.

• Added$83.4millioninstateandlocaltaxestoFlorida’seconomy.

• IncreasedFlorida’sgrossstateproductby$2.5billion.

• Creatednewexportopportunitiesbyprovidingexportcounselingservicestomorethan5,375businesses.

• Producedandretained19,724jobscollectivelypayinganaverage$50,715annually.

To attract, retain and expand businesses in Florida to create jobs, Enterprise Florida relies heavily on its statewide network of economic development partners. Consequently, we share credit for this year’s results with those local and regional economic development organizations that work with us day-in and day-out to ensure a bright economic future for Florida.

Looking ahead, we are going to work hard to build on this past year’s results by focusing even more on core job creation activities: aggressive lead development, increased diligence in ascertaining prospect’s key decision points, providing customized resource offerings to meet business requirements, and responding quickly.

In today’s highly competitive environment, understanding business needs and then customizing solutions and responding quickly are essential for continuing economic development success. The Enterprise Florida team will adapt to meet the changing needs of the marketplace, which will ensure that we remain competitive against other states and countries.

Finally, I want to thank the Enterprise Florida Board of Directors for its guidance and support. EFI’s board is a competitive advantage for our economic development efforts. Feedback and support from private business is essential to our economic development strategy. No one knows that better than our chairman, Governor Rick Scott. It is a new day for economic development in Florida and I look forward to continuing our work creating jobs and economic wealth for Floridians.

Sincerely,

Gray Swoope Secretary of Commerce President & CEO, Enterprise Florida, Inc.

President’s Message

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TheHonorableJeffAtwaterChief Financial OfficerState of Florida

AlanBeckerManaging ShareholderBecker & Poliakoff P.A.

DaleBennett*PresidentLockheed Martin Global Training and Logistics

AllanBense*PartnerGAC Contractors Inc.

JayBeyroutiPresidentMonicarla L.T.D.

KurtBrowningSecretary of StateFlorida Department of State

MaryLouBrunell**Interim ChairWorkforce Florida, Inc.

DominicCalabroPresident & CEOFlorida Tax Watch

RonCampbellDirectorSeminole Financial Services LLC

TheHonorableDeanCannonSpeaker of the HouseFlorida House of Representatives

BrentChristensenPresident & CEOGainesville Area Chamber of Commerce

AndrewP.CortyPresident & PublisherFlorida Trend Magazine

LorettaCostin**Interim CommissionerFlorida Department of Education

BrettCouchFlorida Regional PresidentRegions Bank

MarshallCriserIIIState President-FloridaAT&T

MarkCrosswhitePresident & CEOGulf Power

ViviandelasCuevas-DiazPartnerBroad and Cassel

TheHonorableNancyDetertSenatorFlorida State Senate

FrankDiBelloPresidentSpace Florida

VinnyDolanPresident and CEO Progress Energy Florida Inc.

DebraDuvallPartnerWater Pointe Realty Group

JohnFalconettiPresidentDrummond Press

JohnFrazier*Vice President of Real EstatePublix Super Markets Inc.

DannyGaekwadChief Executive OfficerNDS USA Information Technology & MGM Hotels LLC

GordonGillettePresidentTampa Electric and Peoples Gas

MichaelGriffinVice President, CommunicationsWalt Disney World Resort

HowardHalleExecutive Vice President Florida Division ManagerWells Fargo Bank

MarshallHeardChairmanFlorida Aviation & Aerospace Alliance

ClaytonHollisVice President, Public AffairsPublix Super Markets Inc.

KevinHymanExecutive Vice PresidentCable OperationsBright House Networks

KevinJohnson*Vice President, Economic DevelopmentThe St. Joe Company

RussJollivetteSenior Vice President, Public AffairsBlue Cross and Blue Shield of Florida

BelindaKeiser*ChairWorkforce Florida Inc.

TomKuntzCorporate EVP & Geographic Banking Executive Chairman, President & CEOSunTrust Bank Florida

FredLeonhardtSenior PartnerGrayRobinson P.A.

BobMcAdamSenior Vice President Government & Community AffairsDarden Restaurants

BillMcCollum*Attorney GeneralState of Florida

HowellW.MeltonSenior PartnerHolland & Knight LLP

ArmandoOliveraPresident and CEOFlorida Power & Light Company

SusanPareigisPresidentThe Florida Council of 100

AlPetrangeli*CEO Southeast Region/President Georgia DivisionBalfour Beatty Construction

DonPhillipsManaging DirectorPhillips Development and Realty

WinfredPhillipsVice President for ResearchUniversity of Florida

TheHonorableRickScottGovernor, State of Florida Chairman, Enterprise Florida Inc.

TheHonorableCharlieCrist*Governor, State of FloridaChairman, Enterprise Florida Inc.

Enterprise Florida Leadership | Board of Directors 2010-11(July 1, 2010 - June 30, 2011)

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DawnRoberts**Interim Secretary of State Florida Department of State

HenryRodriguez*President & CEORodriguez Investment Mgmt. LLC

AndyRosenChairman & CEOKaplan Higher Education Corporation

GeneSchaeferSenior Vice President, South Florida Commercial Market ExecutiveBank of America N. A.

JeffShumanSenior Vice President, Chief Human Resources & Administrative OfficerHarris Corporation

TheHonorableAlexSink*Chief Financial OfficerState of Florida

EricJ.Smith*CommissionerFlorida Department of Education

AndrewSmulian*Chairman & CEOAkerman Senterfitt

GarySpulakPresidentEmbraer Aircraft Holding Inc.

SusanStory*President & CEOGulf Power

PeteTesch*President & CEO Ocala-Marion County Economic Development Corporation

HalValechePresidentYork Street Capital Advisors

TonyVillamilPrincipal Economic AdvisorThe Washington Economics Group Inc.

NealWadeSenior Vice President, Economic DevelopmentThe St. Joe Company

PhilWallerVice President MWH Americas Inc.

DeborahWilkinson*Chair Florida Economic Development Council

MarkWilsonPresidentFlorida Chamber of Commerce

MillarWilsonPresident & CEOMercantil Commercebank

RickWilsonSenior Vice President Bacardi USA Inc.

* Now former board members ** Interim members during 2010-11

BillHeavenerCo-Chairman & CEOFull Sail University

ChrisKisePartner Foley & Lardner LLP

GerardRobinsonCommissionerFlorida Department of Education

DeniseSaikiPresidentLockheed Martin Global Training and Logistics

EdSchonsChair Florida Economic Development Council

New Board Members 2010-11

Enterprise Florida Senior Staff

CrystalSircySenior Vice PresidentBusiness Retention & Recruitment

AlLatimerSenior Vice PresidentExternal Affairs & Investor Relations

MannyMenciaSenior Vice PresidentInternational Trade & Business Development

GraySwoopeSecretary of CommercePresident and CEO, Enterprise Florida(as of March 21, 2011)

GriffSalmonExecutive Vice President and COO,Enterprise Florida(as of December 1, 2011)

LouisLaubscherSenior Vice PresidentAdministration

MelissaMedleySenior Vice President and CMO Marketing & Communications(as of September 2011)

* John A. Adams, Ph. D., Enterprise Florida President and CEO (July 2010 - January 2011)* Sena Black, Senior Vice President Marketing & Strategic Intelligence (FY 2010-11)

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Baker County Development CommissionBay County Economic Development AllianceThe Beacon CouncilBusiness Development Board of Martin CountyBusiness Development Board of Palm Beach County Inc.Calhoun County Chamber of Commerce Central Florida Development CouncilCitrus County Economic Development Council Inc.Clay County Chamber of CommerceColumbia County IDA DeSoto CountyDixie County Chamber of CommerceEconomic Development Commission of Florida’s Space CoastEconomic Development Council of Collier CountyEconomic Development Council of Okaloosa CountyEconomic Development Council of St. Lucie CountyEconomic Development Council of TallahasseeEconomic Development Office of Charlotte CountyEDC of Sarasota CountyEnterprise Flagler

Franklin County CommissionGadsden County Chamber of CommerceGainesville Area Chamber of CommerceGilchrist County Development Authority Glades County Economic Development Council Inc.Greater Fort Lauderdale AllianceGulf County Economic Development Council Inc.Hamilton County Office of Tourism and Economic Development Hardee County Economic Development Office Hendry County Economic Development Council, Inc.Highlands County Economic Development CommissionHolmes County Chamber of CommerceIndian River Chamber of CommerceJackson County Development Council, Inc.Jefferson County Economic Development CouncilLafayette County Development Authority Lake County Economic Development Lee County Office of Economic Development Liberty County Chamber of Commerce

Madison County Development CouncilManatee County Economic Development CouncilMarathon Chamber of CommerceNassau County Economic Development BoardNature Coast Business Development Council Inc.North Florida Regional Chamber of Commerce/Bradford CountyOcala-Marion County Economic Development CorporationOkeechobee EDCOsceola County Economic Development Department Pasco Economic Development CouncilPensacola Bay Area Chamber of CommercePinellas County Economic DevelopmentPutnam County Chamber of CommerceSeminole County Economic Development St. Johns County Chamber of Commerce Sumter County E 5 SolutionsSuwannee County Economic Alliance Tampa Hillsborough Economic Development Council

Enterprise Florida works collaboratively with a statewide network of regional and local economic development organizations, or “partners,” to improve Florida’s business climate and ensure that the state remains globally competitive. More than 50 partners comprise the Stakeholder Council. The council meets three times annually and provides Enterprise Florida with “customer” feedback and strategic information regarding the state’s economic growth and diversification efforts.

Primary Partners

Discussing the Gulf oil spill and resources available to affected businesses at a Stakeholder Council meeting, January 2011: (left to right) Michael Lampton, public affairs director, U.S. Small Business Administration; Todd Kocourek, president/CEO, Florida First Capital; and Phil Cochrane, general manager, External Affairs, BP Florida.

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Partner InvestmentsA public-private partnership, Enterprise Florida receives funding from private sector corporations in addition to the state of Florida via a performance contract for economic development services. During the 2010-11 fiscal year, private businesses contributed $1.23 million in funding, which Enterprise Florida used toward its economic diversification initiatives. The following charts depict Enterprise Florida’s sources and uses of funds.

Return on Investment (ROI)Ernst & Young estimates Florida’s return on investment (ROI) in Enterprise Florida by assessing two factors: statewide economic effects of the investments of the business development projects and increased export sales, both as a result of Enterprise Florida’s assistance. The economic benefit from each is determined by their annual effect on employment, labor income and gross state product for the current year. (Although activity during previous fiscal years may continue to contribute to the state economy, only current year benefits are assessed.) State investment includes dollars invested in both Enterprise Florida operations and state incentives. More specifically, the ROI analysis shows how Enterprise Florida’s activities influenced both private sector jobs and income and public sector tax revenue.

Business Performance: Investments / ROI / Customer SatisfactionSourceofFunds2010-11(in millions of dollars)

State Trust Funds $4.90 (36%)

State General Revenue Funds $6.20 (45%)

Program Revenues$1.34 (10%)

Corporate Contributions$1.23 (9%)

UsesofFunds2010-11(in millions of dollars)

Marketing & Strategic Intelligence$2.05 (15%)

Business Retention & Recruitment$1.74 (13%)

Administration $3.86 (28%)

International Trade $4.81 (36%)

External Affairs$1.01 (8%)

Stakeholder Council meeting: (from left) Randy Berridge, president, Fla. High Tech Corridor Council; Tom Patton, economic development director for Charlotte County; and Brent Christensen, president, Gainesville Council for Economic Outreach.

Taylor County Development Authority TEAM Santa Rosa Economic Development Council Inc.Union CountyVolusia County Department of Economic DevelopmentWakulla County Economic Development CouncilWalton County Economic Development AllianceWashington County Chamber of Commerce

Regional Economic Development OrganizationsCornerstone Regional Development PartnershipFlorida’s Great NorthwestFlorida’s Heartland Rural Economic Development InitiativeJaxUSA PartnershipMetro Orlando Economic Development CommissionNorth Florida Economic Development Partnership Opportunity FloridaSouthwest Florida Economic Development PartnershipTampa Bay Partnership

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Fiscal year 2010-11 results:• 37,013newandretainedjobsrelatedtoEnterpriseFlorida

programs and facilitated export sales.

• $1.9billionaddedtoFloridalaborincomethroughhigheremployment and export activity

• $83.4millionaddedtostateandlocaltaxrevenuesbecauseofeconomic growth

• Newprojectsandassistedexportsaddedmorethan$3billiontoFlorida’s gross state product.

• Ernst&YoungROI–2.66:1.TheROIisbasedondollarsofadditional tax revenue per dollar of the state’s direct funding for Enterprise Florida operations ($10.7 million) and the annualized value of incentives awarded to specific projects ($51.6 million). The total investment was $62.3 million. This means that for every dollar invested, the state will receive $2.66 in state and local taxes.

Ernst & Young explains that FY 2010-11 project related direct jobs initially created in year one have a multiplier effect of 2.4

total new jobs for indirect and induced jobs. This was a decrease in the multiplier effect of FY 2009-10, 3.78, because of a decrease in jobs with a high average wage. The ROI for this year is higher because the state’s investment in incentives was smaller.

Customer SatisfactionEnterprise Florida conducts an annual customer satisfaction survey of its statewide business clients and economic development partners. Among those surveyed are economic development contacts in each county, consultants, businesses, and international trade clients. The survey secured feedback about satisfaction and effectiveness. The overall results were:

• 98%oftheinternationaltradeclientsresponded that they were satisfied with the “assistance and service” provided.

• 92%ofthebusinessdevelopmentclientsexpressed satisfaction with the “project/incentives assistance and service” provided.

• 90%oftheprimarypartners indicated satisfaction with the “assistance and service” provided.

Ken Cooksey, international trade regional manager for Enterprise Florida (standing), looks on as John Mallete, managing director, Capital Air Solutions, LLC of Pensacola, (seated, center); Geoff Farmer, president/publisher, Global Defence Review of Budapest, Hungary (seated, left); and, Steve Mills of Southampton, United Kingdom (seated, right), sign a formal international agreement for the marketing and sales of Mallette’s Solar Armor (patent pending) throughout Europe and the rest of the world. Capital Air Solutions attended the Farnborough Air Show through an Enterprise Florida Partner Trade Grant awarded to the Economic Development Council of Tallahassee/Leon County, which partnered with the Florida’s Great Northwest regional economic development organization.

FLF, LLC

Full Sail University

JPMorgan Chase & Co.

TD Bank

New Investors 2011-12

Corporate Investors 2010-2011Corporate support complements state funding in helping Enterprise Florida meet business retention, expansion and recruitment goals in target industries. Private investors are members of the Enterprise Florida board. Aside from making an annual financial commitment, investors serve as advisors regarding economic growth and business development initiatives. During 2010-11, Enterprise Florida’s investors were:

AT&T

Bacardi USA Inc.

Bank of America

Becker & Poliakoff, P.A.

Blue Cross & Blue Shield of Florida

Bright House Networks

Darden Restaurants

Embraer Aircraft Holding Inc.

Florida Trend

FPL Group Inc.

GAC Contractors Inc.

Gulf Power Company

Harris Corporation

Holland & Knight

Kaplan Higher Education Corporation

Lockheed Martin

Mercantil Commercebank

Progress Energy Florida, Inc.

Publix Super Markets, Inc.

Regions Bank

The St. Joe Company

SunTrust Bank

TECO Tampa Electric and Peoples Gas

Walt Disney World Resorts & Parks U.S.

Wells Fargo

* Corporate contributions for 2010-11: $1.23 million

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Business Highlights

Project Hoover | AltadisUSA

Altadis USA, one of the largest cigar companies in the U.S., announced the expansion of its 22-year headquarters presence in Fort Lauderdale through integrating administrative functions of a related company, Commonwealth Brands, currently located in Bowling Green, Kentucky.  Altadis USA and Commonwealth Brands are both subsidiaries of UK‐based Imperial Tobacco Group, which had considered Goodlettsville, Tennessee.

Location:Broward County

ProjectScope:Business retention and expansion. 55 jobs with an average salary exceeding 150 percent of Broward’s average wage, $62,448, along with retaining the current 84 Altadis USA employees. $700,000-plus investment in additional capital expenditures.

“Altadis’ expansion in Florida is a vote of confidence in our state’s ability to assist leading corporations in fulfilling long-term business goals,” said Governor Rick Scott. “I appreciate Altadis’ recognizing my efforts to make Florida the number one state for job creation and the best place to live, work and play.”

Project Foil | Chromalloy

Chromalloy, an aviation services company, announced the relocation of its corporate headquarters from Orangeburg, New York to Palm Beach Gardens, resulting in about 70 jobs. The headquarters will be a part of Chromalloy’s new Technology Center of Excellence, which will be dedicated to the research and development of services for gas turbine engines including repairs, parts and coatings.

Location: Palm Beach County

ProjectScope: Business expansion. Minimum of 70 high-wage jobs. Capital investment: $6.4 million.

“The area is home to a large aerospace and engineering community and is extremely well suited for our business. We have worked closely with the State of Florida and Office of the Governor, Palm Beach County and the Board of County Commissioners, City of Palm Beach Gardens and Palm Beach Gardens City Council,” Chromalloy President Armand F. Lauzon said. “Private economic development organizations that were instrumental were Enterprise Florida and the Business Development Board of Palm Beach County, Inc.”

Business Retention & Recruitment

TOTAL PROJECTS 136

JOBS RETAINED 5,272

PROJECTED EMPLOYMENT 14,452

TOTAL JOBS 19,724 (Goal: 20,000) 18,282 in targeted industries

CAPITAL INVESTMENT $1,114,575,785

During a 10-city tour, Governor Rick Scott (center) made a stop in Lake City, Fla. where he visited Hunter Panel LLC., a recipient of Florida’s 2010 Florida Manufacturer of the Year Award. Also there (left to right): Bridget Merrill, Enterprise Florida; Dennis Cason, president, Suwannee County Economic Alliance; Jim Poole, former economic development director for Columbia County and now vice president of Community and Legislative Affairs for Haven Hospice in Gainesville; and Gina Reynolds, CEO, Florida’s Heartland REDI and former Deputy Director of the Columbia County IDA.

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Project Trident | AAR

AAR selected Melbourne, Florida as the new location for its airlift services and specialized aircraft modifications businesses. AAR will move to hangars, facilities and offices at and near Melbourne International Airport.

Location: Brevard County

ProjectScope: Business expansion. Creation of at least 225 jobs by the end of 2012 at an average wage of $65,000. Capital investments to total at least $18 million.

“Companies like AAR will create the types of jobs we need in Florida during this critical time of transition in the aerospace industry,”notedStateSenatorThadAltman,whorepresentsEastCentralFlorida.“In addition, the technological expertise and capabilities of AAR could lead to a terrific partnership with the state of Florida in areas such as emergency management preparation and civil defense.”

Project Acceleration Announcement: Bing Energy Inc. selected Florida as the new site of the company’s world headquarters. In partnership with Florida State University’s Dr. Jim P. Zheng, Bing Energy plans to turn revolutionary nanotechnology pioneered at FSU into a better, faster, more economical and commercially viable fuel cell.

“Great news for Tallahassee”, the city’s mayor, John Marks, said at Bing Energy’s announcement, which was held at Florida State University. Gov. Scott, in background, agreed wholeheartedly.

Cause for celebration – UTC Fire & Security – a business unit of United Technologies Corp. – expanded its Florida presence by locating the headquarters for its Global Security Products, Global Fire Products and Fire & Security Services groups in-state and establishing a new fire research and test center.

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LegislativeDuring its 2011 session, the Florida Legislature focused on increasing the state’s business competitiveness by revamping agencies and policy initiatives. Lawmakers devoted much time and effort to reorganizing economic development programs while strengthening and streamlining many entities that provide business development services to the state. The subsequent legislation – Senate Bill 2156 – was deemed a priority for economic development and the business community because it restructured the state’s approach to economic job development by consolidating and simplifying the economic, community and workforce development functions. Tagged as the Governmental Reorganization Bill, SB 2156 comprised these changes:

• CreatedtheDepartmentofEconomicOpportunity,which houses the former Office of Tourism, Trade and Economic Development (OTTED), portions of the Department of Community Affairs, and portions of the Agency for Workforce Innovation (AWI).

• MovedtheReadytoWorkprogramfromtheDepartment of Education to the new Department of Economic Opportunity.

• TransferredAWI’sOfficeofEarlyLearningtotheDepartment of Education as a separate entity.

• Consolidatedthepublic-privateeconomicdevelopmentpartnerships: The Florida Sports Foundation and the Florida Black Business Investment Board were merged into Enterprise Florida. Additionally, Space Florida and VISIT Florida gained a stronger affiliation with Enterprise Florida.

• Streamlinedthebusinessincentiveawardprocessbyrequiring that incentive applications be approved or denied within 10 days.

Enterprise Florida staff worked closely with the Executive Office of the Governor, OTTED, House and Senate staff, and economic development organizations statewide to advocate for this legislation. The goal was to secure a more efficient and well-funded economic development process.

External Affairs & Investor Relations

Bank of America and Florida Trend magazine were sponsors of the 2010 Governor’s Business Diversification Awards program, which recognizes organizations for noteworthy contributions toward Florida’s economic growth initiatives. Nominations are submitted by Enterprise Florida’s economic development partners statewide.

Liberty Medical Supply in Fort Pierce, Fla. won a Governor’s Business Diversification Award for Business Expansion. Willis Dingle (right) accepted the award and is congratulated by Chris Hart IV (left), president & CEO of Workforce Florida.

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Military/Defense

Florida Defense Alliance (FDA) The Florida Defense Alliance continued fulfilling its charter mission of assisting the state’s military installations and supporting local service members and their families. The FDA held two major membership meetings to enhance information flow and discussions concerning legislative opportunities to help sustain Florida as the nation’s most military friendly state. Among concerns noted were military base encroachment, family support, revisions to state growth management laws, and protections for military bases and communities regarding development near bases.

Governor’s Military Commanders ForumsDuring their first six months in office, Governor Rick Scott and Lieutenant Governor Jennifer Carroll led two Governor’s Base Commanders meetings, held at Camp Blanding and MacDill AFB. Their avid interest and support have reinvigorated dialogue helped identify state and federal issues for Florida to address in support of its bases and troops. The areas of major concern to base commanders included encroachment, transportation, energy and family support.

Florida Defense Grants ProgramThe Florida Defense Reinvestment Grants and Defense Infrastructure Grants programs were supported by the governor and legislature through steady appropriations. Forty-one open grants are helping local communities’ efforts to strengthen bonds with adjacent bases and partner with them on mutually beneficial projects that will enhance base operations and longevity.

In fiscal year 2010-11, the state awarded $5.85 million in defense grants for projects designed to improve Florida’s defense economy for military installations and activities.

The Florida Defense Reinvestment Grant Program and the Defense Infrastructure Grants are awarded annually on a priority project basis. They are administered by the state in cooperation with Enterprise Florida. In 2010-11, nine projects received Defense Reinvestment Grants totaling $850,000 in support of military base retention and economic diversification. A total of $5 million in Defense Infrastructure Grants was allotted to 11 economic development organizations for 14 infrastructure upgrades at military installations.

* * *DefenseInfrastructureGrants support local infrastructure projects (e.g. construction, land purchases, easements) that enhance an installation’s military value.

DefenseReinvestmentGrants support defense-dependent communities to foster and nurture positive relations between them and their local defense facility.

2010-11DefenseReinvestmentGrants• Bay Defense Alliance• City of Jacksonville• Clay County Chamber of Commerce• Economic Development Council of Okaloosa County• Orange County R&D/National Center for Simulation• Pensacola Bay Area Chamber of Commerce• Space Coast Economic Development Commission • TEAM Santa Rosa EDC• The Beacon Council Inc.

DefenseInfrastructureGrants• City of Jacksonville• City of Fort Walton• City of Tampa• Clay County Development Authority• Escambia County• Highlands County • Okaloosa County• Orange County Research and Development Authority• Pinellas County• Santa Rosa County • Space Coast Economic Development Commission

Florida Council on Military Base and Mission Support (FCMBMS)The FCMBMS provided guidance and leadership in Florida’s efforts to identify issues that can be addressed by state or federal government.  Though not funded for operations in 2010-11, this voluntary group continued to serve, laying a foundation for a follow-on organization that the legislature has created.

Florida Defense Support Task Force  (FDSTF) The Florida Legislature created and funded the larger new Florida Defense Support Task Force, which aims to prepare the state to compete effectively in any base realignment and closure action, support Florida’s position in research and development related to or arising out of military missions and contracting, and improve the state’s military-friendly environment for service members, military dependents, military retirees, and businesses that bring military and base-related jobs to Florida. This task force will commence operations early in the next fiscal year.

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During fiscal year 2010-11, the International Trade & Business Development division continued expanding its services designed to help small and medium sized businesses enter and expand into international markets. Among significant outcomes:

• AssistedFloridacompaniesingeneratingmorethan$563 million in actual and expected sales through export development programs. More than $513 million of that total fell within the state’s targeted industries for economic development.

• Conducted60internationalbusinessdevelopmentevents statewide and globally with 993 Florida participants.

• Providedexportcounselingandinformationto5,379Florida executives; 4,036 represented target-industry companies.

• Distributed734exportsalesleadstoFloridacompanies.

Exports and New Programs Florida’s international sector rebounded strongly during 2010-11 and emerged as one of the strongest of the state’s economy. Florida-origin exports grew by 17.8 percent in 2010 and expanded at an even faster pace through the first quarter of 2010. With the U.S. and Florida economy still recovering from the steep recession, increasing international trade and foreign direct investment opportunities is perceived as key to business expansion and job creation, particularly for the manufacturing, high-tech and knowledge-based services sectors.

According to the National Association of Manufacturers, since 2000, 100 percent of Florida’s growth in manufacturing has come from exports, and since 2005 Florida’s high technology sector exports have expanded at a pace four times faster than the U.S. as a whole. It is estimated that the export of services contributes $30 billion to Florida’s economy.

To support export growth, International Trade & Business Development has continued to expand its outreach programs, focusing on helping Florida manufacturers, technology firms and

value-added knowledge based service providers expand and diversify their exports. The support initiatives have included:

ExportDiversificationGrants• Awardedexportdiversificationgrantstotalingmore

than $69,000 to 24 Florida small and medium sized manufacturers (SMEs), enabling them to offset part of the cost of exhibiting their products in international markets where they had never done business. The program generated $20,278,100 in actual and expected sales in markets for these SMEs.

BrazilMarketEntryInitiative• LaunchedtheBrazilMarketEntryInitiativeinJanuary

2011 to expand Florida trade and foreign direct investment (FDI) development opportunities in one of the world’s fastest growing markets. Brazil is Florida’s largest trading partner and a prime source country for Florida FDI. The Brazil Market Entry Initiative included the opening of a new Florida office in São Paulo that

International Trade & Business Development

Gov. Rick Scott and Canadian Minister of International Trade Peter Van Loan fielded press questions after their economic development discussion at Enterprise Florida’s Orlando headquarters.

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will focus on both export and investment development. The program also features trade expansion grants for new-to-market SMEs, a series of educational roadshows, and trade exhibitions in Brazil designed to expand Florida exports and FDI generation.

CanadaOfficeExpansion• CapitalizedonCanada’sstrongdollarandhealthy

economy by opening an office in Montreal in November 2010. Canada is the fastest growing FDI market and second largest export market for Florida. (Enterprise Florida already had a Toronto office.)

FloridaInternationalMarketingNewsletter• Launchedabiweeklymarketingnewslettertomore

effectively publicize Enterprise Florida’s international trade development events and those of its economic development partners. The newsletter is sent to more than 7,000 Florida companies interested in international business.

FloridaInternationalTradePartnership • Createdtoincreasestatewideinternationaltrade

development cohesion by developing a network of regional organizations with interest in expanding trade opportunities in their region. The group meets quarterly to discuss international development issues, trends and strategies. The partnership includes 32 member organizations representing every region of Florida.

Governor-led Missions During 2010-11, Enterprise Florida coordinated two Team Florida missions, led by Governor Rick Scott, targeting Panama and Canada. Governor-led missions are strategic initiatives designed to target global markets where unusual business opportunity exists for Florida.

MissiontoPanama (March 16-18, 2011) Featured a delegation of 20 Florida port directors and business leaders and focused on securing ties between Florida and the Republic of Panama, and specifically the Panama Canal Authority. Florida has the potential to become the chief beneficiary in the U.S. from expected cargo traffic expansion generated by the canal zone and expanding relations between the Florida seaports and the Panama Canal Authority. Also, the Panamanian government and private sector leadership were deemed essential to accessing this business opprtunity. During the trip, the delegation met with

the canal administrator and senior staff, key business leaders and organizations, and government officials including the president, foreign minister and minister of finance of Panama.

MissiontoCanada (June 6-10, 2011) Canada is deemed the hottest FDI market for Florida because of the high value of the Canadian dollar and the good health of that nation’s economy. The governor’s mission objective was to promote Florida as an FDI destination for Canadian companies and identify Canadian companies interested in locating to or expanding in Florida. The mission, which visited Montreal and Toronto, consisted of representatives of 11 Florida regional economic development organizations and counties, covering most of the state. The governor promoted Florida’s advantages before diverse audiences of Canadian business leaders. In Montreal and Toronto, he met with key Canadian investment prospects. The mission also featured a matchmaker program uniting participating Florida economic development organizations with Canadian companies interested in their specific regions.

The mission resulted in three project announcements that will create 210 jobs in Florida. In addition, the Florida delegation met with 151 Canadian companies interested in establishing in Florida. Among them was Garda, one of the world’s leading security companies, which moved its U.S. headquarters from Pasadena, California to Boca Raton, Florida. The relocation will create about 100 professional jobs in-state at an average annual wage of more than $65,000.

FDI Recruitment Activities During 2010-11, the division’s Foreign Direct Investment (FDI) recruitment section referred 154 new FDI project leads to Florida economic development organizations. The division’s efforts resulted in the establishment of 20 new FDI projects that created 1,082 jobs with an aggregate capital investment of $52,035,000.

Tampa Bay was well represented by its economic development leaders during the business development mission to Montreal and Toronto in June 2011.

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Marketing & Strategic Intelligence

Marketing Florida: “Open for Business” Enterprise Florida’s marketing programs helped promote the clear message that Florida is “open for business” with competitive advantages for growth companies. Two key audiences were the focus of this message: the site selection marketplace and growth businesses in targeted industry clusters, specifically: cleantech, life sciences, infotech, aviation & aerospace and homeland security/defense.

This marketing strategy – an integrated program of webinars, white papers, newsletters, advertorials, e-mail and online campaigns, social media, media alliances, microsites – reached more than 20 million globally, expanded a client database (CRM) by more than 11 percent and generated 320 leads, with 15 projects opened. Additionally, five projects established during the fiscal year as a direct result of marketing – resulting in 213 jobs and more than $102 million in capital investment.

Filling the Job-Creation Pipeline with Lead GenerationTo further support project pipeline development, a new proactive lead generation program based on research and strategic intelligence was launched. The program identifies specific high-impact opportunities in growth mode and delivers customized Florida prospectuses from Governor Scott. These prospects are identified by leveraging the My eFlorida CRM subscription database (which is populated by marketing campaigns) and conducting in-depth industry, trend and company research. Seventeen prospectuses were completed to help fill the project pipeline for the future.

Leveraging High-Impact Events for Business Outreach Enterprise Florida used high impact events to help establish a solid foundation for building long-term relationships. Events included a Florida panel at the Emerging Technologies Conference at MIT and the 2011 BIO International Convention.

HIGHLIGHT: Florida Webinar

Enterprise Florida held a business development webinar in partnership with Frost & Sullivan, a leading global growth consultancy firm. More than 300 attended, with 23 percent from international markets. The webinar focused on business trends in aviation & aerospace, life sciences and cleantech, and showcased Florida as a key business destination with presentations by Frost & Sullivan; Florida companies Embraer Aircraft Holding, Inc., AxoGen and INEOS New Planet BioEnergy; and Enterprise Florida President & CEO Gray Swoope.

EFI and Frost & Sullivan Webinar: “21st Century Technology and Business Trends for the Future”

Gary SpulakPresident

Embraer AircraftHolding, Inc.

Jamie GroomsChairman &Co-Founder

AxoGen

Tex CarterVice President

OperationsINEOS New Planet

Bioenergy

Gray SwoopeFlorida’s Secretary

of Commerce &President/CEO

Enterprise Florida

Florida Speakers

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HIGHLIGHT: 2011 BIO International Convention (Washington, D.C.)

Governor Scott, Secretary of Commerce/EFI President & CEO Gray Swoope and a delegation of Florida companies showcased Florida’s business advantages and research strengths during the 2011 BIO International Convention, a key global event for the life sciences industry that attracted 15,000 attendees.

Governor’s BIO Breakfast Briefing Governor Scott was the featured speaker at a business development breakfast with about 100 attendees. Secretary Swoope and representatives from Scripps Florida, Max Planck Florida Institute, Accentia Biopharmaceuticals/ Biovest International, Florida universities and Lake Nona Medical City highlighted Florida’s emergence as the number-two fastest growing biotech market in the U.S.

Florida Panel Session at BIO 2011 In partnership with Abbott Laboratories, Enterprise Florida hosted a panel session on personalized medicine with more than 100 attendees. Representatives from H. Lee Moffitt Cancer Center & Research Institute/M2Gen, Sanford-Burnham Medical Research Institute, Accentia Biopharmaceuticals/Biovest International and Banyan Biomarkers overviewed Florida’s strengths in personalized medicine and the state’s overall business advantages.

Additional BIO initiatives included 12 business development meetings and four media interviews.

Enterprise Florida partnered with the Florida High Tech Corridor Council, including Gainesville Area Chamber of Commerce, Metro Orlando EDC and Tampa Bay Partnership, and BioFlorida, on the BIO initiatives.

Florida Panel Session at BIO 2011 was named a “Top 10 Session” by the BIO Program Committee co-chair.

www.eflorida.com/KnowledgeCenter

Research FoundationsAs a portal for economic development data and research, the Knowledge Center on eflorida.com provides a wealth of information for Floridians and economic development stakeholders. Real-time updated content includes statistical data on Florida’s economy, trade, foreign direct investment, clusters, regions, and business and demographic data.

New DirectionsA newly realigned Enterprise Florida department in late 2011, Marketing & Communications represents the corporation’s increasingly strategic use of marketing and communications to meet its economic development goals. The department is developing a marketing plan for Enterprise Florida, which will be introduced early in 2012. The plan will comprise solid strategies under the overall objective of supporting job creation efforts. An expansion of this model will be a comprehensive marketing plan for the state, and it will reflect vital input from key economic development stakeholders. Essentially, the state plan will guide how Florida markets and promotes itself for economic development.

Governor Rick Scott speaking at the BIO Breakfast Briefing.

International Locations THEAMERICASBrazil(São Paulo)Fabio Yukio Yamada, DirectorMariana Falkenburger, ManagerT 011 (55-11) 3040-4848fabio@eflorida.com.br mariana@eflorida.com.brwww.eflorida.com/brazil

Canada (Montreal)Frédérick Bernard, Director T 514.448.3751f.bernard@eflorida.ca www.eflorida.com/canada

Canada(Toronto)Lou CaporussoT 647.723.2157l.caporusso@eflorida.ca www.eflorida.com/canada

Mexico (Mexico City)Ana Arroyo Yllanes, DirectorT 011 (52-55) 2455-3971 to 73info-efimexico@axtel.netwww.eflorida.com/mexico

EUROPECzechRepublic(Prague Liaison Office)Jan Kozubek, DirectorT 011 (42-02) 2492-0632kozubek@becker-poliakoff.cz

France(Paris)Laurent Sansoucy, DirectorT 011 33 (0) 143 87- 56 40laurent.sansoucy@eflorida-europe.com

Germany(Munich)Michael Hass, DirectorAlexander Bothmann, Deputy Director T 011 (49-89) 9901-3665alexander.bothmann@invest-in-florida.dewww.eflorida.com/germany www.eflorida.com/deutschland

Spain (Madrid)Sergio Reyes, DirectorGonzalo Arance, Deputy DirectorT 011 (34-91) 781-3483eflorida@e-finance-institute.comwww.eflorida.com/spain www.eflorida.com/espana

U.K.(London)Gavin Cleary, DirectorT 011 44 (0) 207-822-0718gavin.cleary@eflorida-europe.comwww.eflorida.com/uk

MIDDLEEAST/AFRICAIsrael(Tel Aviv Liaison Office)Nurit Gazit c/o Orange Blossom Ventures Ltd. T 011 (972-3) 696-6479eflorida@obv.co.ilwww.eflorida.com/israel

SouthAfrica (Suburban Johannesburg)Tongila Manly, Managing DirectorT 011 (27-11) 476-6734EnterFlorida@TheManlyGroup.com www.eflorida.com/southafrica

ASIAChina(Beijing Liaison Office)Richard Lawrence III Nan Chen Holland & Knight LLP T (86-10) 6566-1968/1278/1760Richard.Lawrence@hklaw.comNan.Chen@hklaw.comwww.eflorida.com/china

China(Shanghai Liaison Office)David Giles StiefelShanghai, ChinaT 011 (86-139) 0168-3709davidstiefel@cbda.us www.eflorida.com/china

Japan (Tokyo Liaison Office)K. Sam Tabuchi, Directorc/o Forum for Development Strategies T 011 (81-3) 3230-0505kstabuchi@aol.com www.eflorida.com/japan

Taiwan (Taipei Liaison Office)Wennie Chen, DirectorT 011 (886-2) 2758-5181tpe.efi@msa.hinet.net www.eflorida.com/taiwan

Florida Regional Offices

Orlando/CentralFloridaMichael Schiffhauer,Vice President, Field Operations & European Trade Development 800 North Magnolia Avenue Suite 1100Orlando, Florida 32803T 407.956.5634mschiffhauer@eflorida.com

Jacksonville/NortheastLarry BernaskiRegional Manager, International Trade Development(Canada Specialist)Three Independent DriveJacksonville, Florida 32202T 904.359.9350lbernaski@eflorida.com

Pensacola/NorthwestAndrea Moore, Regional Manager, International Trade Development (ICT-Computer Industry Specialist)117 West Garden StreetPensacola, Florida 32502T 850.469.8989Toll Free 866.974.8989amoore@eflorida.com

TallahasseeKen CookseyRegional Manager, International Trade Development (Aviation Specialist)325 John Knox Road, Suite 201Tallahassee, Florida 32303T 850.298.6632kcooksey@eflorida.com

TampaBayLorrie BelovichRegional Manager, International Trade Development201 North Franklin StreetSuite 201Tampa, Florida 33602T 813.276.9430lbelovich@eflorida.com

WestPalmBeach/SoutheastJohn Diep Regional Manager, International Trade Development(Asia Specialist) 310 Evernia StreetWest Palm Beach, Florida 33401T 561.832.8339jdiep@eflorida.com

Principal Florida Offices

Orlando(Headquarters)800 North Magnolia AvenueSuite 1100Orlando, Florida 32803T 407.956.5600F 407.956.5599

Tallahassee325 John Knox RoadAtrium Building Suite 201Tallahassee, Florida 32303T 850.298.6620F 850.298.6659

Miami-Dade (International Trade & Business Development)201 Alhambra Circle, Suite 610Coral Gables, Florida 33134T 305.808.3660F 305.808.3586

Enterprise Florida Offices

eflorida.com

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